Retailer Overstock mixed up bitcoin and bitcoin cash, letting customers buy items at a steep discount


A serious payment glitch on retail website Overstock.com, which sells everything from furniture to diamond rings, allowed customers to pay with either bitcoin or bitcoin cash interchangeably. It’s a problem because the two cryptocurrencies, which split off from one another last August, have wildly different valuations.

According to CoinMarketCap, one bitcoin is currently worth $13,880 while a single unit of bitcoin cash is valued at $2,355, meaning those who paid with bitcoin cash could buy an item for a fraction of the asking price. Worse still, if a customer paid in bitcoin cash and wanted a refund, Overstock’s system would refund the customer in bitcoin, giving the user more money than they initially paid. It’s not clear how many...

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via The Verge - Tech Posts "http://ift.tt/2ALVI5J"

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